Just over half a year ago the entire cryptocurrency market entered a bear market. For public blockchains, the time leading up to the bear market was spent growing ecosystems and findings ways to distribute wealth among developers and users. Since the bear market started, a trend towards dApp games has begun.
Many developers have found solace in developing games that can produce some of the highest activity we have seen on blockchains, and likewise, users have found comfort in playing fun dApp games, many of which come with crypto incentives – not a bad way to wait out the crypto winter.
However, looking at DappRadar, if you take the number of transactions or total price volume in the past 24 hours and divide it by the number of users, through simple calculation you will uncover the abnormally high numbers per user for many of these games. Suspicious you should be, as reports by blockchain security company PeckShield in December uncovered this activity comes from a small portion of accounts, pointing to the probability of fake volume.
Fake volume mostly occurs on public blockchains without a gas fee [or with a tiny gas fee], which with false marketing can help create the misunderstanding that this volume is good for the development of the blockchain and the token. This is fake news – fake volume is an overdraft of the ecosystem in which genuine developers and users do not reap the benefits of the blockchain. However, with a gas fee, we can make blockchains which reward both developers and users for the genuine activity they create.
Gas, synonymous with utility tokens, are used in blockchains for paying transaction fees or rewarding miners, just as we see in early blockchain projects such as Bitcoin and Ethereum. As blockchains have evolved, we have seen a more advanced use of gas, such as in Ontology, NEO, Cardano, and so on, where it is used for on-chain transactions, smart contract deployment, and more.
Meanwhile, with blockchains such as EOS and TRON, the same actions require collateralizing tokens to acquire network resources. Below are the advantages and disadvantages of blockchains which use gas. Let us take a more considered decision when choosing which public blockchains to support.
Advantages of gas
- Rewards miners/nodes
Whether it is Bitcoin, Ethereum, Ontology, NEO or other public blockchains, all require compensation for computing and storage.
- Simplified economic model
Blockchains without a gas model require case-by-case, complex fee structures for dApp developers to earn an income. With a gas model, this process is simplified and incentivizes developers to make good dApps which users actually use.
- Prevents malicious acts
If there is a gas fee to pay for transaction fees the likelihood of DDOS attacks is greatly reduced as they become expensive to execute.
- Prevents fake volume
Likewise, if there is a gas fee, the fake volume is costlier. This allows good dApps which create activity naturally be recognized.
- Supports growth
The gas model creates the need for users to purchase and hold tokens long-term [many tokens gradually unbind gas to holders, such as with Ontology].
Disadvantages of gas
- Gas price fee
If gas fee prices are not adjusted in accordance with the market, it will have negative consequences on the use of the blockchain.
Introducing a second token to a blockchain makes things a little more complex, which can make the blockchain less user-friendly if not implemented well.
Legislation of Casinos: Places that are taking steps towards complete Legalization of Gambling in 2019
More and more people are seeing any form of gambling as morally acceptable. In a 2009 poll by The Gallup, only 58% of people in the US seem to accept this industry. With an update for 2018, the percentage has raised to 69%.
There could be multiple reasons why people still have different opinions about gambling, whether it’s through the form of playing a casino game online or in any establishment or betting on any sports and games. Opinions could be formed because of a person’s religion, income, and race, and educational attainment.
The legalization of gambling could also affect how people see it. With more and more places all over the world taking steps to legalize any form of gambling in their area, people are becoming more accepting of this industry. In here are some note-worthy updates about the legislation on gambling all over the world.
Regulation of Online Gambling in Ontario, Canada
Any form of gambling was made illegal in Canada half a century ago and it was in 1969 when the provincial and federal government of the country were allowed to host lotteries. Then in 1985, each province was then allowed to legalize any form of gambling that they choose.
With all of those updates on Canadian law regarding gambling, there wasn’t really anything that targets online gambling until recently, when a press release from the Canadian Gambling Association [CGA] was spread.
With this, online gambling laws in Canada seem to be taking its shaped. CGA has noticed how much Canadians, particularly in Ontario, has been wagering on online gambling websites outside the country. More than $500 million are spent by the people of Ontario in gambling each year.
Because of this, CGA and the local government see the need to have their country put in place an online regulated system to allow their citizens to place wagers on any gambling sites safer. For now, the CGA is looking forward to taking part in the government’s planned dialogues with this industry’s stakeholders.
Pennsylvania’s Online Gambling Launch
Pennsylvania will be the fourth state in the US to launch and legalize online casinos. It was previously announced that PA online casino and poker servers should be up in at least the first quarter of 2019.
However, because of the recent DOJ interpretation of the Wire Act of 1961, the PA’s Gaming Control Board decided to delay the launch for a bit.
It is expected that most online casinos in PA will then be launched in mid-2019, where the earliest target date is in mid-June. This was as instructed by the PA’s Gaming Control Board, and they expect online casinos to comply.
For now, if you’re in PA but can’t wait to play online casino games, you can check the top betting sites online. There are some casino sites that can give you insights about the best casinos you can find on the web. This site will also let you know whether an online casino will accept bettors from your place.
Remote Gambling Bill in the Netherlands
Like a lot of European countries, the Netherlands is deemed lax when it comes to their laws about gambling in any form. However, before 2012, when it comes to online gambling, the Dutch community seems to be restricted about playing casinos online.
Back then, the Dutch people are allowed to place their bets online, but this was only through local servers, which at that time was limited. However, even if more and more websites are starting to get based in the Netherlands, there are still Dutch people who’re place their bets on foreign casino websites that go unnoticed.
Because of this, a bill was submitted to allow Netherland’s government to issue licenses to foreign websites and let them legally accept wagers from the Dutch citizens.
On the 19th of February, the Netherland’s senate placed votes on the Remote Gambling Bill, which already passed the Ditch parliament three years ago. The result was much anticipated and is now good news to foreign online casinos.
Sometime next year, the Dutch government will start to issue online gambling licenses to foreign casino websites and end the monopoly of online gambling in the country. Analysts shared that the process of issuing online gambling licenses might start in January 2021.
Next year may only be the start of application requests from foreign and local stakeholders. The only problem that some foreign casinos that may have to face are the “cooling period”. This is a proposal by the Dutch Minister of Legal Protection that would not allow operators who have been accepting bets from the Dutch citizens prior to the legalization for two years.
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